UMH Properties board increases stock repurchase authorization to $100M

UMH Properties (UMH) Board of Directors has authorized the Company to repurchase up to $100 million of its outstanding common stock, an increase from the Board’s previous authorization of up to $25 million of common stock repurchases. The Board of Directors initially approved a share repurchase program in 2009 and, since that time, UMH has repurchased approximately 194,000 shares of common stock at a weighted average price of $10.64 per share for a total purchase price of approximately $2.1 million. There have been no share repurchases made since 2020.